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20121230
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MSNBC
Dec 30, 2012 3:00pm PST
on their what have from the very beginning of this congress, demanding immediate spending cuts at a time when the economy was still pretty shaky, and taking the unprecedented action of holding the necessary rise and the debt ceiling hostage to their own policy demands, leading to a downgrade in our dollars and the decline in the economy. so, yeah, the tea party bears responsibility. but the tea party and the republican party, sadly, have become one in the same. >> well, take us sort of micro now, that's the macro picture. take us micro into these next 29 1/2 hours and how this might play into whether or not we go off the fiscal cliff. >> yeah, listen, as you know, you've been talking to many other people up there, there's an easy way of agreeing to a small package that deals with tax cuts extending the tax cuts for most families, and an extension of expiring unemployment benefits. everyone had hoped to have something much more ambitious. but in the end, the republicans are not free to talk taxes. they've bought on to grover norquist's no new taxes. and that sort of has set the stage
FOX
Dec 29, 2012 11:00pm EST
congress to vote on a plan c, one keeping tax cuts in place for most americans. in washington, mike emmanuel, fox news. >> when it comes to the spending cuts, critics are more concerned. they will be cut by $50 million what will be cut is undetermined. >> it's going to affect the operational force that is deployed in terms of its ability to maintain its equipment and to get repair parts and that forces on force is deployed around the world. not just in afghanistan but being reduced. it would impact the training of the force. >> whatever happens, citizens won't so any trouble if congress doesn't act by the new year. they have a few days to act. >>> fair cocks county police made an arrest. the 22-year-old is facing murder charges for stabbing 19- year-old xavier stringfellow to death. the bloody was -- the body was found in the car. the police say the two men didn't know each other before meeting up. >> and what happened or why. you have to look at all the possibilities. >> there was some sort of stroll struggle when the victim got killed and believe the suspect may have tried to cove
CNN
Dec 30, 2012 6:00am PST
january 1st tax cuts for everyone will expire. we have a majority of support in the congress, republicans and democrats who actually support providing tax cuts for people who make under $250,000. >> to the point, would you vote for something if it came out to extend unemployment benefits and it's $400,000 or lower? would you support that? >> if 400,000 doll is part of a balanced package. if it's not -- >> if you get anything, right, it's an extension of unemployment benefits and somewhere along the line retaining tax rates for whatever one defines. >> republicans actually rejected the $400,000. >> we have an obsession level with increasing tax rates, and people across the board say this does nothing to deal with this spending problem we have in this country. nothing. he's fixated on what may help what funded the government for seven days a year. completely ignoring the other 358 days a year. you have to focus on really what's going to save this country, and we are not there. the president is doing nothing about the addiction that his administration has to spending. he's the spender in chi
NBC
Dec 30, 2012 10:00am EST
defense alone. >> well, the other part of the fiscal cliff is congress agreed that they would cut an additional $1.2 trillion in spending. they put a committee together to try to come up with those numbers. they didn't figure out how to do it. and so what we now have is a situation where these automatic spending cuts go into place. now if we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off what's called the sequester, these automatic spending cuts. and that also would have a better outcome for our economy long-term. but you know, so far at least, congress has not been able to get this stuff done. not because democrats in congress don't want to go ahead and cooperate. but because i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit. as part of an overall deficit reduction package. >> you talk about a dysfunction in washington. you signed this legislation setting up the fiscal cliff 17 months ago. how accountable are you fo
MSNBC
Dec 30, 2012 1:00pm PST
. half of those cuts are in defense alone. >> well, the other part of the fiscal cliff is congress agreed that they would cut an additional $1.2 trillion in spending. they put a committee together to try to come up with those numbers. they didn't figure out how to do it. and so what we now have is a situation where these automatic spending cuts go into place. now if we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off what's called the sequester. these automatic spending cuts. and that also would have a better outcome for our economy long term. but, you know, so far at least, congress has not been able to get this stuff done. not because democrats in congress don't want to go ahead and cooperate, but because i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. >> when you talk about a dysfunction in washington, you signed this legislation setting up the fiscal cliff 17 months ago
FOX Business
Dec 30, 2012 4:00am EST
stopgap proposal, one to avoid the full impact of the fiscal cliff. it will allow congress to again take another crack at finding some way to deal with spending cuts and tax reform. gerri: stay with us, rich edson. thank you so much for that report. turning now to our guests. it's up to harry reid and mitch mcconnell, the two leaders in the senate. trying to craft something. how likely is it that there would be a bill that passed the senate and house? after all, that is the problem we have had a long. >> well, first, we have not en any details of this package. we are talking completel off-the-cuff, but we know will not be at 250. i think carrie reed has problems from new york like dianne feinein of california, and 250 will be a big pill to swallow. this is a fiscal cliff that we can have 50 days, 60 days down the road. it does not fix the problem if you ill have these taxes on $250,000 and above. as rich edson said, this is going to be another deadline in congress has to have. i think everyone needs to get comfortable with the fact that we are going to have these kinds of stopgap la
CBS
Dec 30, 2012 10:30am EST
congress on spending cuts as there is between john boehner and his caucus on taxes. there is great distance in how far that party has to go to come together to do the kind of entitlement cuts that we still need to see at some time, whether this month or this year or next year. there's a long way to go. they have never been as close as people think on this topic. >> o'donnell: that's interesting, you're saying in terms of messaging the white house has done a good job in keeping this-- >> brilliant. right on taxes. on spending, every time the white house suggested a little bit of spending cuts, social security, med character immediately the democratic caucus said no. >> o'donnell: isn't that the thing about the boehner deal the president said this morning, he was willing to go father on spending cuts that made democrats mald at him and he couldn't get boehner to accept that. >> that's right. he was willing to raise the age of eligibility for medicare-- >> o'donnell: which dick durbin opposes. >> he was willing to change the way consumer price index is calculated for social security.
CSPAN
Dec 30, 2012 7:00am EST
and spending cuts are slated to take defect in the new year. congress and the white house had spent seven weeks of bickering over all these different elements of the this clip. as you know, there are many elements. many tax provisions, a lot of spending cuts, and at this point, any deal that is reached will not deal with a lot of these things. it is going to potentially make some tax cuts for below $250,000. it will potentially patch the alternative minimum tax. it will not deal with the payroll tax holiday. the most likely will not deal with the sequester. it may earn -- it may or not deal with tax breaks for businesses. for all these arguments and ongoing things about these tax and spending issues, in the end, we will get any compromise, if at all. host: we hear about the flurry of proposals that happened yesterday. any details that emerged from that that will tell us more about what we might be fighting over at the end? is it just numbers in terms of tax brackets, were specific tax proposals? guest: believe what the two are fighting over is the threshold of the tax rates -- who i
CSPAN
Dec 30, 2012 2:00pm EST
come back with a new congress on the fourth and the first bill on the floor will be to cut taxes on middle-class families. i do not think that the average person is one to say -- gosh, that is a really partisan agenda on the part of the president or democrats in congress. people will say -- that makes sense, that is what the economy needs right now. if one way or another we get through this -- do i wish that things were more orderly in washington, rational? that people listened to the best arguments, compromised, operating in an organized fashion? absolutely. but history shows this to be the exception rather than the norm. >> president obama and today's edition of "meet the press." speaker boehner in particular said "the president has never called for the senate to act on those bills, he has allowed the democratic controlled senate to lead our economy to the edge of the fiscal cliff. congress people from both parties are searching for a bipartisan solution. that is the leadership that america needs, not what we saw from the president this morning ." those of the comments from speake
FOX News
Dec 30, 2012 9:00am PST
his short-term plan to extend unemployment for 2 million people and extax cuts for those making $250,000 or less. >> not because democrats in congress don't want to go ahead and cooperate but because i think it's been very hard for speaker bainer and republican leader mcconnell to accept the fact taxes on the wealthiest americans should go up a little bit, as part of an overall deficit reduction package. if folks can't say yes to good offers, then i also have an obgigs to the american people to make sure that the entire burden of deficit reduction doesn't fall on seniors, who are relying on medicare. >> reporter: the president focusing his comments on the tax side of this so-called fiscal cliff. but as mike so aptly pointed out, there is the sequester, the massive spending cuts that would largely target the defense department. those are coming due as well at the beginning of the year. senator lindsay graham was on fox news sunday and told chris wallace, he got a call from the defense secretary, leon panetta, who said, even if there is a deal on the hitt hill to deal with the tax
CNN
Dec 30, 2012 7:00am PST
show appearance in three years, president obama today called for congress to at least extend middle class tax cuts and unemployment benefits if no fiscal deal is reached. tax hike increase take effect january 1st. >>> the situation in the war-torn country is getting worse by the day. this weekend is proving him right. opposition activists say at least 397 people were killed across syria yesterday alone. if true, the deadliest day yet in almost two years in the civil war. the opizatiposition says more t 200 killed following a battle. >>> new england is getting a heavy dose of snow and freezing temperatures. boston is expected to get up to eight inches and the city's mayor has declared a snow emergency. neighboring rhode island is also getting pounded over a foot of snow has already fallen in some parts of that state. >>> some good news this morning about former president george h.w. bush. we're told he is improving and has been moved out of the intensive care unit of the houston hospital where he was being treated for an elevated fever. the 41st president has been in the hospital for
MSNBC
Dec 30, 2012 9:00am PST
witt. i'm t.j. holmes filling in for alex. a consequence of history in the nation's capital if congress cannot reach a compromise deal on tax and spending cuts. a short time ago, we were hearing from the president talking about the fiscal cliff negotiations. he spoke exclusively on "meet the press" and he had a message for congress. >> at minimum, make sure people's taxes don't go up and 2 million people don't lose their unemployment. i was modestly hopeful yesterday. now, the pressure is on congress to produce. >> the president responded to what would happen if no agreement is reached and the nation does fall over that cliff. >> if you look at projections of 2013, people generally felt that the economy would continue to grow, unemployment would tick down, housing would continue to improve, but what's been holding us back is the dysfunction here in washington. if people start seeing that on january 1st, this problem still hasn't been solved, that we haven't seen the deficit reduction that we could have had, the republicans willing to take a deal that i give them. if they say that people
CSPAN
Dec 30, 2012 10:30am EST
cutting spending. the country and congress will remain a divisive, since there is no loot left to divvy up. without this recognition, the spenders in washington will continue to march towards a fiscal cliff much bigger than the one anticipated this coming january. i have thought a lot about why those of us who believe in liberty as a solution have done so poorly in convincing others of its benefits. if liberty is what we claim it is, the principle that protect all personal decisions necessary for maximum prosperity and the best chance for peace, it should be an easy sell. history has shown that the masses have been quite receptive to the promises of authoritarians, which are rarely, if ever fulfilled. should we have authoritarianism or liberty? if authoritarianism leads to poverty and war and less freedom for all individuals, and is controlled by rich special interests, the people should be begging for liberty. there certainly was a strong enough sentiment for more freedom at the time of our founding that motivated those who were willing to fight in the revolution against a powerf
KOFY
Dec 29, 2012 9:00pm PST
cuts will kick in. it seems unlikely they can write a comprehensive budget bill in time. they are thinking of a fall back plan. >> president obama is urging congress to focus. >> i'm optimistic that an agreement can be achieved. >> at the white house friday the president and congressional leaders spent some 70 minutes in a negotiating session and agreed to keep talking. >> it was constructive. >> it was constructive. >> i'm hopeful and optimistic. >> as snow fell on mostly deserted washington, two sides continued bargaining. if there some on deal, president obama wants smaller bill extending tax cuts making $250,000 or less and continuing unemployment benefits for millions that will lose them. >> i believe such a proposal could pass both houses with bipartisan majorities as long as these leaders allow it to come to a vote. >> we can still avoid going over the fiscal cliff if the president and democratically controlled senate step forward to solve this problem and solve it now. >> frustration over the impasse runs from wall street where the dow is down 400 points to main street. >>
CNN
Dec 30, 2012 11:30am PST
candria crisp who wants what some of republicans are pushing for, saying they want more spending cuts in the legislation. i think we have time to jump in with one more. the people in congress have their form of entitlements but still end up on vacation with no work done. that's terrace hogan. one of many people complaining that congress only got back together in this respect in recent days and hasn't had this worked out a long time ago. we're going to be sharing your comments throughout the afternoon. throughout the evening. go ahead and send them and martin, we'll be back later on with more. >> congress does work for the people. maybe it's good they hear from the home office from time to time. >>> well there's only one place to spend new year's eve and that is right here with anderson cooper and kathy griffin. they've got a special preview for us. >>> restore revive rejuvenate rebuild rebuild rebuild . >>> leading our coverage from times square on new year's eve. anderson cooper and kathy griffin. the two will host as the new year is welcomed around the world. they're here to tell us wh
NBC
Dec 30, 2012 2:30am EST
we are heading into a new week and new year on wall street. congress is working the weekend, attempting to avert some part of that $6 billion in automatic tax increases and the spending cuts that are set to kick in on january 1st. that fiscal cliff and its potential impact on our economy brought lawmakers from both houses to washington for last-minute negotiations. concerns about the cliff spooked investors, the holiday shortened trading week was lighter in volume but higher in volatility. the worst decline of the month on thursday after a disappointing read on consumer confident and some public statements by congressional leaders. and yet with one final trading day to go, all the major averages were still showing positive performance for the year of 2012. meantime, the u.s. is set to reach the debt limit on monday. that according to treasury secretary tim geithner in a letter to congress, though, he did say he expects to take what he called extraordinary measures to extend the government's borrowing ability for another two months or so. and even your cup of coffee, once a d
CSPAN
Dec 30, 2012 6:00am EST
. they are now on the cutting edge of tomorrow's air force. it is important congress has its voice heard. i did not presume to know we were right. i did know there had to be some alternative avenues. within the intelligence arena, we had a chance to look closely to unmanned area vehicles. it seemed to me this could be a pathway to revolution. it would not have happened, had congress not been involved. >> we could probably offer some examples from the other direction, so let me understand how does the public get best served with the competing forces that all want their program to continue? their district to be served. >> it is a big part of our job. it is an appropriators responsibility to be involved in that fight. it involves both oversight and insisting that money be spent well. i must say it comes to mind that one of the first projects i was ever involved in, a young person dropped a ping-pong ball on his back window during the 1938 flood. the ball hit the water and floated out the back fence. many years later, and earmarked back here that led to the project, that sort of seven
ABC
Dec 29, 2012 11:00pm EST
will be in perfect. >> it comes up with president obama calls the bare minimum addressing tax cuts without doing anything to curb spending. >> we will get at best a patch and be here again in two months. congress cannot get out of its own way. >> average family would pay an extra $3,400 next year. >> the law says that every american's tax rates are going up. every american's paycheck will its mother. if that the impasse has shaken wall street, -- the impasse has shaken wall street. >> i think the likelihood is we go over the fiscal cliff. >> jim moran is wondering if partisan politics has destroyed the chance for any agreement. >> i don't think we will be up to reach a deal, no matter how small it might be. >> the american people are watching what we do. obviously, their patience is already thin. >> if senate leaders reached a deal, rank-and-file senators could vote by sunday, house member sunday night. right now there is not enough time left, they really need a deal tomorrow to beat the monday midnight deadline. richard reeve, abc 7 news. >> in addition to working on a deal on the
FOX Business
Dec 30, 2012 8:00am EST
about, which is raising taxes and now, and they trust us, we'll get to the spending cuts later on, let's not worry about that right now. the last thing we want t see is a weak-need congress and a weak-willed predent patting themselves on the back because they have some watered down deal. i think they need to feel some pn, i think they need to see he the implications in the markets,n the economy, so, yes, i think no deal right now is better than a bad deal. >> okay, gary b, jim mentioned the market, let me play wall street on tv. basically i'm sick of this. i'm going to keep heading south because the uncertainty, the anxiety is killing me. if we had any kind of deal, at least we might see stocks move up a bit. that would be good for our 401(k)'s, wouldn't it? >> that's exactly my perspective, brenda. this was a really rough week on the market and it's all related to, not the-- not the fiscal cliff, it's the psychology of the fiscal cliff, and the sad truth is whether they do deal now or they thoughtfullyo a deal six months from now, really, nothing wl be accomplished. he fact is, public d
FOX News
Dec 29, 2012 4:00pm PST
continued employment. >> the only way to avoid the automatic $492 billion in cuts to the pentagon over the next nine years is for congress to make a deal in the next two days. harris? >> peter, thank you. fox weather alert now. a new headache for travelers. tonight a fresh storm system is pummeling the northeast. as you know much of the region and really the rest of the country are recovering from the winter storm that hit earlier in the week. this new round of weather bringing even more snow, freezing rain and strong winds already causing some flight delays and making the roads dangerous. meteorologist justin povik with the accu-weather. justin? >> harris, i tell you, we cannot catch a break across the northeast and the nation's midsection. not to leave out the west coast. they have been stormy and wet, especially around san francisco. the meat of the storm system has been targeting the ohio valley and the northeast, and the latest is doing its dirty work across the coastal sections. the i-95 corridor. the worst of the worst we will target boston over the course of the next three to four
CSPAN
Dec 29, 2012 7:00pm EST
american taxpayer that the tax cut in 2001. those cuts were good for the economy and families. congresses action to make the first bracket and% and that that 15%, double the tax credit and deal with that marriage penalty and tax code, make a difference to a lot of american families. going over the fiscal cliff is avoidable. there is that much time but there is still time to act. both president obama and senate majority leader harry reid claim it is an achievable plan, one that can pass both houses of congress. and republicans agree. the republican controlled house is taking the step into the right direction. the house has already passed a bill to protect all americans from burdensome tax increases. they passed legislation rick -- replaced damaging spending cuts with responsible targeted ones and to bring our nation's record debt under control. instead of working across the aisle and considering the house passed plan to protect taxpayers, senate democrats spent months going partisan -- drawing partisan lines in the sand. the president's proposal to raise taxes on the top to% of americans w
CNN
Dec 30, 2012 1:00pm PST
desire for ending the bush tax cuts and ending these last-minute confrontations in congress. this debate is continuing. martin, i will tell you, we are getting a lot of messages across all platforms, tweeting with you-all at joshlevscnn, also facebook joshlevscnn. send us an ireport, video if you want to, we might share some of this right here, one way of getting your message out to the country and to lawmakers in these final hours before the end of the year, which could bring with it some big, big, big financial changes for all of us. >> absolutely, josh, hope the folks in washington are listening and watching. thank you. >> thank you. >>> deadline for that fiscal cliff, well, we have said it, 32 hours. we will bring you the latest on its major sticking points. ♪ [ woman ] ♪ what i want this season ♪ if you'd like to try and guess ♪ ♪ it is something very special ♪ i would readily confess [ dogs barking ] ♪ 'cause all i want this season ♪ ♪ is something from your heart ♪ la da da, la da da [ male announcer ] thinking of others this holiday season, travelers.
FOX
Dec 30, 2012 9:00am EST
irresponsible defense cuts and this is what congress thinks is a good deal. >> chris: i'm not sure it is a good deal but avoids the worst of the fiscal cliff. senator bayh -- obviously, we don't know, what is your sense, no filibuster in the senate? you heard lindsay graham and do republicans pass whatever the senate agrees to? >> the odds are somewhat better than 50/50 we get a minimal deal in the senate. not one that solves our debt problem, as you pointed out earlier and this is a prequel to going through it again around the first of march over the debt ceiling and getting us through this crisis, slightly better than 50-50 and the real question is in the house of representatives and will it be enough of a compromise, that enough republicans can vote for it, to get through the house? i put that at 50-50. >> chris: byron, the most we can say, or will be ale to say if congress passes something is they were able to stop the crisis, that they created, in the first place. but, they will have done nothing, i mean, it is really quite astonnishing to deal with the debt problem which is what
MSNBC
Dec 30, 2012 4:00am PST
room, president obama condemned congress for failing to resolve its differences in in normal way. he held firm to middle-class tax cuts to families making $250,000 per year. joining me now from the white house is nbc's kristen welker. kristen, let's take a look at what the president said about what he expects from the senate. >> i just had a good discussion from house leadership about how to prevent this on the middle class. i believe we can reach an agreement. if an agreement isn't reached in time between senator reid and sno senator mccollum, i will reach to him. i believe such a proposal could pass both houses with bipartisan majorities as long as the leaders allow it to actually come to a vote. if members of the house or the senate want to vote no, they can. but we should let everybody vote. >> kristen, this up or down vote seems to be the big news of the day. isn't this what the white house wanted all along? >> well, it is and it's president obama's way of saying, look, vote on his basic proposal, the proposal that would extend middle-class tax cut, deal with spending cuts. it's
FOX News
Dec 30, 2012 3:00pm PST
unless congress acts. there's also a possibility of a $108 billion in spending cuts. this is largely the defense department as we talked about and also money that ends up in people's pockets. there's an economic impact. >> i misspoke, i said tuesday at midnight. tomorrow at midnight. >> yes, december 31. >> the money is personal for people. you start to talk about budging a household. for the average family? >> 3500 bucks is the income tax hit. >> above what they're paying. >> and additional 3500 for median income. that goes up dramatically the wealthier you are. tens of thousands of dollars more. you could on the hook for a real hit. >> the argument is the wealthy won't feel it but they won't spend it either. >> that's the point. a lot of those people paying higher taxes own small businesses and will opt not to hire and it will ripple through the economy. >> it hurts when i hear you say job losses because we have so many millions out of work. people don't want to talk about money. some have tuned out of the process, they're starting to tune in because they go back to work af
FOX
Dec 30, 2012 8:00am EST
delay, you know, if they have like an 8% cut over the course of the year, they can do little in january and february and hope that congress does something about it later on in the year. so, you know, in that sense, if they are able to avoid the tax increases for most americans, they will have taken away the vast majority of the impact of the fiscal cliff. >> and i know also you will be talking with senator feinstein about her plan. she says day one she is going to submit legislation to renew the assault weapons ban. >> that's exactly right, january 3rd, thursday of the new congress she says she is going to introduce legislation to -- a ban on the high capacity magazine clips that hold more than 10 rounds of ammunition at a time. she is a big supporter of gun control, lindsey graham, a card carrying member of the national rifle association, he supports wayne lapierre's proposal to put armed guards in schools. >> thanks for your time this morning. i know a lot going on on capitol hill today. normally a quiet day but lots going on today. >> you bet. and one more thing, go skins. >> absolut
CNN
Dec 30, 2012 12:00pm PST
estimates from the congressional budget office. a nonpartisan score keeper for congress. they found if you let the bush tax cuts on higher earners, it would boost the economy almost as much as if you let everybody's bush tax cuts stay in place. there's little difference on how much would you help the economy if you let the bush tax cuts stay in place for everyone or for most people. in that sense it sounds like it wouldn't have a huge effect on the economic recovery. having said that i think if you asked most economists and tax experts, all things being equal is it better to have lower rates or higher rates, they would say probably better to have lower rates. all things aren't equal. there is no objective level of what is too high and there are different factors of what goes into economic growth it would depend on whales congress does with its tax and spend policies. it's not just the -- >> you sort of backed into this and said you're answering my question in the reverse, by saying it's not clear that increasing the taxes on that small portion of people would have much of an impact on
CNN
Dec 30, 2012 2:00pm PST
today. we shouldn't have had sequestration and automatic cuts. we shouldn't have had the debt controlling debackle. all that was manufactured by the united states congress. and so i'm sanded by where we stand. >> can i ask you this is with all respect is there a concern that perhaps you're almost bailing at a time when your moderation is needed most? >> i think it is important to have centrist voices in the united states sales in the but given the fact that i have spent 34 years in the united states congress, i thought that in looking over the next six years whether or not it would appreciably change, i didn't think so. i thought it was best to contribute my experience and insiders a voice to match the outsider's frustration and to talk about how it can change and how it used to work i don't see how it changing on the short term, given the partisanship, polarization, putting the political parties first around not the country's interest first, the outside groups that you perpetuate division, i thought i could best contribute that way. i want to make a difference so in is the be
ABC
Dec 30, 2012 6:00am PST
building where it started. >>> a rare sunday session for congress. all eyes on the senate as the nation moves closer and closer to the brink of that fiscal cliff with massive spending cuts and tax hikes set to automatically kick in. they are trying to come up with a last minute compromise. president said any bipartisan bill would have to extend unemployment benefits affecting some 2 million americans. it would also have to increase taxes on the highest income earners. >> just can't afford a politically self-inflicted wound to our economy. the economy is growing, but keeping it that way means that the folks you sent to washington have to do their jobs. >> the president's proposal to raise taxes on the top two percent of americans won't even pay one-third of the annual interest that's now owed on the massive $16 trillion debt. >>> the house returns tonight just one day before a deal needs to be reached. it's likely negotiators will be burning the midnight oil as the clock ticks down to 2013. >> much more on the fiscal cliff this morning on abc's "this week i charles shumer of new york and
MSNBC
Dec 30, 2012 5:00am PST
reduction measures which means unless congress acts in the next 48 hours the bush tax cuts will expire along with federal unemployment insurance and a broad package of the spending cuts including defense spending will take effect. do weeks of fruitless negotiations and john boehner and senate leader are working on a deal this morning to avoid the fiscal cliff, or as chris hayes and i call it, the fiscal curve. the deadline is soft. it's not like every american is going to be handed a bill on january 1st and there's way to manage the damage if the country goes over. the senate is set to convene this afternoon with the house to follow tonight. there's a chance that a compromise will be reached, less than 48 hours before tax rates revert to their clinton dasher are levels and board across the board spending cuts talk effect. when the president took to the podium friday afternoon to urge the law enforcements to get their act together with he didn't exactly project confidence. >> this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff
MSNBC
Dec 30, 2012 2:00pm PST
, fact, go up on january 1st, then we'll come back with a new congress on january 4th, and the first bill that will be introduced on the floor will be to cut taxes on middle class families, and, you know, i don't think the average person is going to say, gosh, you know, that's a -- that's a really partisan agenda on the part of either the president or democrats in congress. i think people will say that makes sense because that's what the economy needs right now. one way or another we'll get through this. >> it kind of sounds like the president is prepared for this to go into next year, and if it does, who do you think gets the blame? >> well, call it instead of democrats plan "b" call it plan "c" for cliff because i think democrats for a while have held the upper hand on these fiscal cliff negotiations because what is it all mean? this is about taxes for democrats, and the bush tax cuts expire at the end of this year, and, look, they are saying republicans are going to come back and say we don't want taxes to go up for those, you know, making less than $250,000 a year or more, so the
CSPAN
Dec 30, 2012 6:00pm EST
recommend what programs and what agencies and accounts to cut. if o.m.b. fails to do the job, then the sequestration across-the-board cuts kick back n of course the final word rests right here with us in congress. o.m.b.'s decision with be overridden by a joint resolution. every provision of the calm act o the senate. in fact, at one time or another, nearly every feature of this plan has been offered by both republicans and democrats, including president obama and speaker boehner. all i've done is pull them together to offer them has a compassionate alternative to what happens if we go over the fiscal cliff. true, from the very beginning i have favored a comprehensive solution to put our fiscal house in orderings something along the lines of the simpson-bowles. we don't have that luxury right now. but perhaps it will only soften the blow of the fiscal cliff but also give us a sense of urgency about a grand bargain to repair our financial house. i am not so naive as to believe everybody is going to check their politics at the door, even at this late hour, but this is not a time for poli
FOX News
Dec 30, 2012 1:00pm PST
but only if it's a broader debt deal. republicans have different ideas. they want to see more cuts in spending right now. >> arthel: thank you very much. >> gregg: congress is not only facing a fiscal cliff, it's up a dairy clarify, if you will. the current farm bill is set to expire on new year's day. if an extension of that is not passed, the farm policies would revert to laws back to 1949 and cost of milk, that could skyrocket. back then the government used a formula to calculate dairy prices that is much more expensive than it is today. one option said to be on the table is short term extension that would prevent milk prices from rising. >> arthel: to other stories. a judge ordering a psychiatric evaluation for a woman suspected of shoving a man off a new york public is way platform. he was arraigned last night on murder and hate crime. she confessed to pushing a man in front of a moving train telling them, i hindus and muslims. co-worker was was behind due. >> gregg: two missing boys from georgia have been found in texas an amber alert was issued, ages nine and seven when they
FOX News
Dec 29, 2012 7:00pm PST
the automatic $492 billion in cuts to the pentagon over the next nine years is for congress to make a deal in the next two days. harris? >> peter, thank you. fox weather alert now. a new headache for travelers. tonight a fresh storm system is pummeling the northeast. as you know much of the region and really the rest of the country are recovering from the winter storm that hit earlier in the week. this new round of weather bringing even more snow, freezing rain and strong winds already causing some flight delays and making the roads dangerous. meteorologist justin povik with the accu-weather. justin? >> harris, i tell you, we cannot catch a break across the northeast and the nation's midsection. not to leave out the west coast. they have been stormy and wet, especially around san francisco. the meat of the storm system has been targeting the ohio valley and the northeast, and the latest is doing its dirty work across the coastal sections. the i-95 corridor. the worst of the worst we will target boston over the course of the next three to four hours approaching an inch an hour. snow
CNN
Dec 30, 2012 4:00am PST
in tax increases and spending cuts take effect. senate negotiators stayed late into the night trying to work out a plan that would pass a vote. both houses of congress would convene later this afternoon in a rare sunday session. in his weekly address, the president took his message directly to the public calling for congress to come together to pass a deal. >> for the past couple months, i have been working with people in both parties with the help of business leaders and ordinary americans to come together around a plan to grow the economy and shrink our deficits. it's a balance plan. one that would protect the middle class, cut spending in a responsible way and ask the wealthiest americans to pay a little more. and i'll keep working with anybody who's serious about getting a comprehensive plan like this done because it's the right thing to do for our economic growth. but we're now at the point where in just a couple of days the law says that every american's tax rates are going up. every american's paycheck will get a lot smaller. and that would be the wrong thing to do for our eco
ABC
Dec 30, 2012 9:00am PST
session for congress. all eyes on the senate as the nation moves closer to the the brink of the fiscal cliff with massive spending cuts and tax hikes cut to automatically kick in. lawmakers will get down to work starting at 10:00 this morning our time. senate negotiators are trying to come up with a last-minute compromise to present to the house. president obama says any bipartisan bill has to extend unemployment benefits, affecting some 2 million americans. he says it must increase taxes on the highest income earners. the president knows neither side is going to get everything they want, and he thinks it's time for house republicans to compromise. it is very important for republicans in congress to say we aren't going to get 100%, at the need to compromise in order to solve problems. >> if there is enough in the agreement for republicans to be able to support it, and we can get a majority of republicans in the senate and a majority of democrats in the senate, then i think there's a good opportunity for a majority of democrats and republicans in the house. >> well, the stock markets ap
CNN
Dec 30, 2012 10:00am PST
are the top stories this hour. right now, congress scrambling to reach a deal on the fiscal cliff before tuesday's deadline president the senate and house are convening while senate negotiators work at a plan to prevent massive spending cuts and tax hikes from kicking in january 1st. president obama appeared today on nbc's "meet the press" and said the cuts in spending need to be fairly distributed. >> what i'm not willing to do is to have the entire burden of deficit reduction rest on the shoulders of seniors making students pay a higher student loan rates, ruining our capacity to invest in things like basic research that help our economy grow. >> in news overseas the bodies of the dead are being carried away in syria today. at least 397 people were killed saturday. that is the deadliest day so far in the 21-month long civil war. another 52 died today. the joint u.n. arab league envoy said the situation is rapidly deteriorating but that a solution is still possible. >>> in massachusetts boston's mayor lifted a snow emergency a little earlier today. more than a foot of snow fell o
ABC
Dec 30, 2012 9:00am EST
day tomorrow. we've known these automatic cuts, the so-called -- this was going to be happening for more than a year. respect you a little embarrassed as leaders in the congress that it has gotten to this point that tomorrow is new year's eve, the day it all expires and you still don't have an agreement? we've been having this argument for two years. >> it is embarrassing but almost every disagreement we've this is not because of a senate where we've had lots of -- we've come to agreement on many things. there are 50 hard right people in the house who don't want to compromise. they don't believe in any revenues, they say compromise is a dirty word and speaker boehner just as recently as last week played their tune. you cannot make a deal -- >> okay, but -- >> if you're going to let the people who are the hardest right and uncompromising dictate what we should do. so it's embarrassing but i am hopeful in the new year after speaker boehner is re-elected and he doesn't have to worry about those 50, that he will start working in a way like the senate works a little more which is democra
CSPAN
Dec 30, 2012 6:30pm EST
accounts to cut. if omb fails to do the job, the sequestration cuts kick back in. of course, the final word is with us here in congress. any decision can be overridden by a joint resolution. every provision of the act is familiar to the senate -- in fact, at one time or another nearly every feature of this plan has been offered by both republicans and democrats, including president obama and speaker boehner. all i have done is pooled them together -- a compassionate alternative to what happens if we go over the fiscal cliff. true, from the very beginning i have favored a comprehensive solution to put our fiscal house in order. something along the lines of wles-simpson planned. perhaps this will not only soften the blow, but also give us a sense of urgency about a grand bargain to repair our fragile house. i'm not so naive as to believe everybody will check their politics at the door. even at this late hour. but this is not a time for politicking, bickering, or partisan games. to allow the country to plunge over the fiscal cliff without any alternative plans to solve -- soft and the lan
CNN
Dec 30, 2012 3:00pm PST
era tax cuts would expire. >> yeah. the world's most predictable political crisis and this is a totally self-made problem. congress set this time bomb and now scrambling to diffuse it. it is a dereliction of duty. we were told all year that nothing would get done in the presidential year, because it was contentious, and that the lame duck would be productive and politicians would come together and reason together and think about the national interests, but it has not happened. they can't seem to focus on solving a problem until the literal last minute and the senate is at home and everything is going to be done tomorrow on new year's eve, and folks should be furious, because if it were a business everybody would be fired, and they are not getting the job done. the american economy and the fragile recovery is hanging in the balance. >> john, what do you think has to happen? one of the things that claire mccaskill, and senator claire mccaskill was saying today that is that the house is held hostage by a small group of extreme republicans. we know that grover norquist may or may no
ABC
Dec 30, 2012 2:00am PST
temporary 2% payroll tax cut is set to expire. >> senate leaders are headed back into session tomorrow morning. tune into morning news for the latest. >> portland, oregon residents have taken their disappointment in congress to the street. there's this road sign in north portland. now instead of road construction it reads, fiscal cliff ahead. >> a winter storm is dumping snow over the northeast and part office ohio. a tractor-trailer and several other cars collided in the snow on interstate 83 just outside harrisburg pennsylvania. there have been more than 450 flight cancellations. >> lots of people are takingedef a advantage of the snow. check out this kid in canada. only 18 months old but is already moving quickly on his little snowboard, pacifier and all. >>> just ahead, the popular tv shows -- the show illegally downloaded the most. >> thank you for calling the state disability insurance program. >> the i-team reveals why one state agency is too busy to take your calls. >> clear sky, light winds, dryer air, temperatures in the mid-30s, in our north a >> ama: if you've called the st
ABC
Dec 29, 2012 11:00pm PST
% payroll tax cut is set to expire. >> senate leaders are headed back into session tomorrow morning. tune into morning news for the latest. >> portland, oregon residents have taken their disappointment in congress to the street. there's this road sign in north portland. now instead of road construction it reads, fiscal cliff ahead. >> a winter storm is dumping snow over the northeast and part office ohio. a tractor-trailer and several other cars collided in the snow on interstate 83 just outside harrisburg pennsylvania. there have been more than 450 flight cancellations. >> lots of people are takinged a a advantage of the snow. check out this kid in canada. only 18 months old but is already moving quickly on his little snowboard, pacifier and all. >>> just ahead, the popular tv shows -- the show illegally downloaded the most. >> thank you for calling the state disability insurance program. >> the i-team reveals why one state agency is too busy to take your calls. >> clear sky, light winds, dryer air, temperatures in the mid-30s, in our north a >> ama: if you've called the state unem
FOX News
Dec 30, 2012 11:00am PST
defense cuts. everybody agrees this is probably bad policy to have middle class americans taxes go up and this is what congress thinks is a good deal. >> chris: i'm not sure they think it is a good deal but a deal that avoids the worst of the fiscal cliff. senator bayh, obviously we don't know what is your sense? no filibuster in the senate. you heard what lindsey graham said and do republicans pass whatever it is that the senate agrees to? >> i think the odds are some what better than 50/50, chris, that we get a minimal deal in the senate. not one that solves our debt problem as you pointed out earlier and this is all just a prequel to going over this again around the first of march over the debt ceiling. the real question is in the house of representatives and will it be enough of a compromise that enough republicans can vote for it to get that through the house. i put that at 50/50. >> chris: byron i think the most we can say or will be able to say if congress passes something is that they were able to stop the crisis that they created in the first place. but they will have done nothin
MSNBC
Dec 30, 2012 12:00pm PST
these negotiations will be passed on to the next congress? >> well, we are certainly getting closer and there is still time to go. the fact that mitch mcconnell and joe biden are now leading these talks is actually somewhat encouraging because these two have cut deals before. they have served together for quite a while in the senate. they were part of the debt ceiling negotiations last year and it was believed that mitch mcconnell would be brought in to these negotiations. the fact that they are still talking and on capitol hill yesterday and here today and remains hopeful that something can come suggests they are eager to cut some kind of a deal. we will have to wait and see whether or not it is conceivable by the end of the day. >> you wrote an article titled "the fiscal cliff is just an early battle in a war that democrats are going to win" where do you think republicans went wrong? >> well, you know, the problem for republicans i think isn't so much a tactical decision they made but isn't acknowledging where public opinion is. the reason democrats have the upperhand isn't just b
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